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Announced

Completed

CVC Capital completed the acquisition of a 90% stake in Ethniki Insurance from National Bank of Greece for $536m.

Financials

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Transaction Value£388m
Consideration TypeCash, Contingent Deferred Consideration
Capital Owned-
Capital Bid For90%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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Cyprus

insurance services

Private Equity

Private

Majority

Friendly

Insurance Brokers

Cross Border

Acquisition

Single Bidder

Completed

Synopsis

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CVC Capital, a private equity firm, completed the acquisition of a 90% stake in Ethniki Insurance, an insurance brokerage services provider, from National Bank of Greece, a banking and financial services company, for $536m. NBG said the deal adds about 90 basis points to its total capital ratio.

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